Lockheed order backlog to cushion tough 2012

WASHINGTON (Reuters) - Lockheed Martin Corp , the Pentagon's largest supplier, forecast broadly flat sales and operating profit for 2012, with a record high order backlog helping it to cope with cuts in U.S. defense spending.

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Reuters - Lockheed Martin Corp , the Pentagon's largest supplier, forecast broadly flat sales and operating profit for 2012, with a record high order backlog helping it to cope with cuts in U.S. defense spending.

Lockheed Martin Corp , the Pentagon's largest supplier, forecast broadly flat sales and operating profit for 2012, with a record high order backlog helping it to cope with cuts in U.S. defense spending. ...

The Pentagon has requested the purchase of 34 F-35 jets from Lockheed Martin (LMT) in its budget for the fiscal year to commence on October 1, 2014. This is eight less than the target of 42 set in the earlier budget. Still, the revised number is above the current fiscal year’s jet purchases that were requested by the Pentagon and approved by the Congress, which stood at 29 for the current fiscal year.

WASHINGTON (Reuters) - Lockheed Martin Corp , the Pentagon's largest supplier, said on Tuesday it could face hundreds of millions of dollars in business claims from suppliers if $500 billion in additional defense spending cuts take effect in January, as currently mandated.

USA’s $700 billion war machine is the largest in the world. The country's 2012 military expenditure of $682 billion was more than the combined spending of the next nine countries on the list. The country relies on massive spending in order to maintain its dominance and security interests around the world.

According to Reuters, Great Britain has placed an order for four F-35 Joint Striker Fighter Jets manufactured by Lockheed Martin Corporation (NYSE:LMT). The F-35B aircraft will be used by the Royal Navy and Royal Air Force.

Lockheed Martin Corp , the Pentagon's largest supplier, said on Tuesday it could face hundreds of millions of dollars in business claims from suppliers if $500 billion in additional defense spending cuts ...